Markets turn against Jeremy Corbyn as Labour’s crisis deepens

Corbyn's future could hang on Jim McMahon's Oldham bid

Defeat in this week’s by-election could prove a tipping point for controversial leader

After another terrible week for Labour, Betfair markets are turning fast against the party and their new leader Jeremy Corbyn.

Corbyn is now rated only 17% likely to lead Labour into the 2020 General Election, at odds of 6.2. On the Betfair Sportsbook, he’s shortened to 1/4 from 11/10 to leave post before David Cameron, who has already stated he won’t run in 2020.

More immediately, money continues to pile in about a massive upset in next week’s Oldham West and Royton By-Election. When the contest was first announced following the death of longstanding MP Michael Meacher, Labour were rated 95% likely to retain what is, on paper, an ultra-safe seat.

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